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Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
 Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agreements to acquire, together with a co-venturer, 100% stake of PT Multi Tambangjaya Utama (MTU) as well as its coal distribution rights for a combined indicative purchase price of approximately US$132 million.
Indika bought the assets, excluding the MTU's outstanding debt, via its subsidiaries dubbed PT Indika Indonesia Resources and Indika Capital Pte Ltd. Upon closing, Indika Resources and Indika Capital will hold a majority stake of 85% in this venture.
“This acquisition will increase Indika Energy’s coal reserves & resources and future production, and more importantly is in line with our strategy to strengthen further the group’s energy value chain,“ said Arsjad Rasjid, Co-CEO Indika Energy in a press statement.
MTU is a bituminous thermal coal (6,500 to 7,200 Kcal/kg on adb basis) and coking coal (7,800 kcal/kg on adb basis) mining company based in Central Kalimantan holding a CCoW third generation expiring in 2039 covering approximately 24,970 hectares concession.
Independent party analysis of the coal deposit on 10 blocks, based on USGS standard, indicates 75.2 million tons resource and 40.6 million tons mineable reserve of high quality thermal and coking coal. Further plans for comprehensive drilling and detailed exploration of the concession area are in place to reconfirm the reserve base.
Who is Multi Tambangjaya?
Founded in 1989, Multi Tambangjaya is based in Jakarta and has a project area in Central Kalimantan, Indonesia. MTU has established in situ resources of bituminous coal and a track record of exploration success in the Barito basins. MTU has been awarded a concession of nearly 25,000 hectares by the government of the Republic of Indonesia.
MTU was acquired in 2007 by Asia Thai Mining, a global company operating in coal business through Asia. Since then, MTU has rapidly grown to become a recognized coal producer, its maximum capacity will reach 4.8 million tons per year at its final stage; mainly steam coal.
MTU became a fully fledged mining company by acquiring underdeveloped properties in established basins and has improved its logistic by building its own road and port. MTU believes that its demonstrated operational and technical expertise, combined with its excellent reputation and strong community relationships throughout Indonesia, make it well positioned to continue to grow its reserves and production.
As at May 31, 2010, MTU had 300 employees, whom mostly were Indonesian. MTU creates employment and business opportunities for local people, particularly in remote locations where there are few other opportunities for economic development, and ensures that skills, know-how and technology are transferred to Indonesian nationals.
MTU production has been delegated to local contractor PT Thailand Bara Pratama, a subsidiary of Italian-Thai development PCL (ITD).
ITD is a global leading company fully supporting MTU through Asia Thai Mining Ltd. Strong of more than 30 years of experience in the mining industry and 50 years the construction business.
In 2000 ITD was awarded the 38 million tons coal mining project by the Electrical Generating Authority of Thailand (EGAT) for the Mae Moh Lignite Mine Phase 5 in Thailand. This was followed in 2002 with a 10 years contract for overburden removal and coal extraction.
Source: Insider Stories
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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
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